Although subjective well-being is considered important for nurses, the relationship between hope, self-efficacy, and subjective well-being among nurses has rarely been assessed. This study purposes to explore the relationships between hope, self-efficacy, and subjective well-being. The analysis relies on data from 1757 female nurses in 3 hospitals in China. Nurses completed a demographic form, General Self-efficacy Scale, Hope Scale, General Well-Being Schedule. A mediate model of the hypothesized relationships between the constructs was tested. Significant direct relationships of hope, self-efficacy, and subjective well-being were displayed. Mediation analyses reveal that the impact of self-efficacy on subjective well-being is partially mediated by two components of hope, agency and pathways. Hope was shown to be a key mediator for the relationships between self-efficacy and subjective well-being. These findings advance current understandings on the hopeful thinking in nurses.